Nvidia Stock Has 26% Upside, According to 1 Wall Street Analyst
The rise of artificial intelligence (AI) over the past year or so has made Nvidia (NASDAQ: NVDA) a rock star among the Wall Street set. However, after gaining 224% over the past year (as of this writing), the stock has hit a wall, leading some investors to believe the best gains are already in the rearview mirror.
But at least one Wall Street analyst believes there's still plenty of upside ahead.
Bank of America analyst Vivek Arya reaffirmed his price target of $1,100 while maintaining a buy rating on the stock. That represents potential gains for investors of 26% compared to Wednesday's closing price. The analyst addressed Nvidia's sell-off, calling it a "refreshing pause," noting it's the ninth decline of 10% or more since late 2022.
Source Fool.com
